Fluor (NYSE:FLR) Given New $63.00 Price Target at UBS Group

Fluor (NYSE:FLR) had its target price increased by research analysts at UBS Group from $51.00 to $63.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s price objective suggests a potential upside of 18.33% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird boosted their price objective on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Truist Financial upped their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays upped their price target on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $65.00 in a research report on Tuesday. Finally, DA Davidson boosted their price objective on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.29.

Fluor Trading Down 0.8 %

Shares of NYSE:FLR traded down $0.43 during trading hours on Wednesday, hitting $53.24. 257,468 shares of the company’s stock traded hands, compared to its average volume of 1,561,310. Fluor has a 1 year low of $32.31 and a 1 year high of $55.86. The business has a fifty day moving average price of $48.61 and a 200-day moving average price of $45.28. The firm has a market capitalization of $9.11 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 2.18 and a beta of 1.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.17. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Equities analysts expect that Fluor will post 2.88 earnings per share for the current year.

Insider Buying and Selling

In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the sale, the chief financial officer now owns 41,908 shares in the company, valued at approximately $2,107,972.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares in the company, valued at approximately $2,676,885.27. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the sale, the chief financial officer now owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock worth $2,156,604 in the last 90 days. Insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Several hedge funds have recently made changes to their positions in FLR. ORG Partners LLC purchased a new stake in shares of Fluor in the 2nd quarter valued at approximately $34,000. GAMMA Investing LLC raised its holdings in shares of Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after purchasing an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after acquiring an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Fluor during the 2nd quarter worth $51,000. Finally, Quest Partners LLC acquired a new stake in Fluor during the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.